Streamline reward and recognition with employee benefits using one digital solution

Why use a unified digital solution?

57% of HR professionals admitted feeling pressured to cut down and reduce the cost of employee benefits.

The message is clear. HR professionals want to do more to support their employees but aren’t always the final decision maker. Doing more for less and with less is essential when trying to make the most significant impact with the available budget.

Cost-effectiveness and sustainability are the order of the day, meaning employee benefits must achieve their purpose and provide a return on investment. It's also vital that your business can fund them as part of an ongoing employee engagement strategy.  

When time is tight, simplified management processes are a must. A unified digital solution makes managing your people initiatives more time-efficient.

Benefits of streamlining employee benefits and rewards

Our Virtual Pluxee Card: Where streamlining and sustainability meet!

Our Virtual Pluxee Card is the most versatile employee benefit in our product portfolio, making it the perfect tool for streamlining multiple strategies. It’s a prepaid cashback-earning payment card powered by VISA that your employees add to their digital wallet. 

How does it work as an employee benefit? 

There are two options:

1. Once employees receive their digital card details, they top up their balance and use it online or in-store worldwide, wherever the retailer accepts VISA prepaid as payment.
2. You set up the Virtual Pluxee Card, so your business can also add funds for employees as part of your employee benefits and wellbeing strategy.

The benefit for employees is that we partner with a vast range of retailers to create our cashback network. When your people use their Virtual Pluxee Card as payment with one of these retailers, they can earn up to 15% cashback. 

Whether it’s your money on the card or theirs, it’s stretched further with cashback, which goes into their digital wallet and is trackable via their app.

How does the Virtual Pluxee Card fit into your reward and recognition strategy? 

No more hunting for gifts or processing cash bonuses through payroll; simply load your cash reward onto your employee’s Pluxee Card.

How does this benefit your business?

Once you’ve set up your Pluxee Card initiative for employer loads and top-ups, the process is the same whether you’re rewarding or supporting your employees. Your benefits and rewards strategy becomes streamlined, reducing administrative time and unifying processes.

Money-stretching benefits for employees.

Every penny you load onto your employees’ Virtual Pluxee Card has the potential to increase beyond the original value by up to 15% due to the cashback-earning feature. 

• A £50 reward could become a £57.50 reward.
• A £75 reward could become an £86.25 reward.
• A £100 reward could become a £115 reward.

When you allow your employees to earn cashback on employee benefits and rewards, you’re giving them more for less, making your budget work harder, and helping them enjoy and afford more of what matters.

What do employee benefits and rewards do for your business?

Here are some statistics from our guide to creating a Cost-Effective and Sustainable People Strategy that make it clear why a reward and recognition and employee benefits strategy are vital components of a thriving business.

• 53% of employees say they would stay longer at their company if they felt more appreciation from their employer.
• 75% said the right support makes them more loyal to their employer.
• 74% of employees state that a potential employer's benefits package forms an integral part of their decision-making process.

Unleash the potential of your recruitment and retention strategy.

These numbers tell us that reward and recognition - appreciation - enhance feelings of loyalty towards their employer, strengthening your employee retention efforts. We’ve written several blogs on reward and recognition to help you create or enhance your employee retention strategy: 

• Affordable and inclusive ways to harness the power of employee appreciation 
• Inclusive employee rewards for all generations
• 9 Reasons why you should revolutionise your employee reward & recognition strategy

It’s also clear that employee benefits packages also power retention and talent attraction efforts. Here’s how you can stay ahead of your competitors:

• Everything you need to know about employee benefits
• Employee retention strategies… the trick to keeping your talent
• Making Employee Benefits Work: A Guest Blog by Professor Amanda Kirby

Aligning with values and meeting business needs.

Use your reward and recognition strategy to encourage employees to align with your core values and repeat desired behaviours. The same is true of employee benefits. Let’s say you communicate to your employees that their wellbeing is a priority. Without actions and initiatives to back this up, they're just words. Walk the talk with an employee benefits package that enhances financial, mental, and physical wellbeing.

You can also use a unified digital employee benefits and reward solution to reinforce your values and ambitions, proving your commitment towards efficiencies, time management, employee financial wellbeing and reducing carbon emissions.

Employee benefits and rewards boost engagement and motivation. 

Employee benefits enhance employee wellbeing, reduce stress, make life more affordable, and help employees experience more of what matters most. Employee rewards - recognising and appreciating achievements - give employees the emotional boost they need to keep performing to the best of their ability.

Healthier and happier employees + a more focused and productive workforce = a better return for your business!

Reducing absenteeism.

Absenteeism costs businesses approximately £500 per employee annually. Disengaged employees have 37% higher absenteeism rates, so the more engaged employees you have, the lower the financial risk.

Embedding our Virtual Pluxee Card within your employee benefits and reward strategy streamlines your HR process, making recognising and supporting employees more efficient. Freeing up time on admin allows HR professionals to focus on other initiatives that will also boost employee engagement. 

Beyond employee engagement and wellbeing

Channel Incentives

The ‘ee’ in Pluxee stands for ‘employee experience.’ That’s the business we’re in, but when you create a product as versatile as our Virtual Pluxee Card, it naturally diversifies into other areas.

If your business uses channel incentives, this is another way to make our Virtual Pluxee Card work for you - three solutions in one digital delivery! No more sending money or vouchers; load your incentive payments onto their Pluxee Card account using the same process each time.

Membership and Loyalty

Have you heard about our partnership with Worcestershire County Cricket Club (WCCC)? Our ground-breaking and incredibly exciting partnership is revolutionising WCCC's membership experience, allowing members to earn up to 15% cashback with all stadium retailers, plus access to our wider cashback partners.

In this case, WCCC’s members also have a physical card made from recycled PVC because it has dual usage, doubling as WCCC’s membership card, providing fans access to the stadium via a unique QR code.

Read more about how we’re boosting fan loyalty and supporting their financial, mental, and physical wellbeing here: https://www.linkedin.com/feed/update/urn:li:activity:7178677268368510977

We agree that loyalty, retention and engagement matter, whether we’re talking about employees, partners or members. Retention is cheaper than attraction, no matter the industry or goal.

Harness the power of a streamlined reward and recognition with employee benefits using one digital solution. Request a call today.